Score comparison with identical files

[Anonymous]

Thought this would be an interesting data point to share. This is my monthly CCT update from today. My files are an exact match, right down to total inquiries and inquires in the past 12 months, (3). As you can see, TU is 17 points higher than EX and 24 points higher than EQ. It's always had a similar spread. My theory is that TU places more emphasis on oldest tradeline than the other two. The note "long credit history" seems to indicate this.

[Anonymous]

There's something really disturbing to me about the way that the reason codes (factors hurting your score) can be so wildly divorced from reality.  30+ years of credit history does not constitute a short credit history, and yet that is what is listed for Experian.

This is not simply amusing.  It's actually dangerous for ordinary rank and file consumers who might take action based on a reason code being given.  They have a right to expect that the reasons have some connection to reality.  Otherwise it would be a lot better for no reasons to be given. 

[Anonymous]

I can see Experian's point on that issue. That 30 year plus history consists of a single card showing in my files. The next oldest is only a little over 8 years. So, they're focusing on the AAoA which is rarher short.

[Anonymous]

Then it should say Short Average Age of Accounts. 

There's something profoundly broken about a screenshot that says your strength is your Long Credit History (TU) and your weakness is your Short Credit History (EX) when the data are identical!  :-)

It's possibly of course that the reason codes (TU's and EX's) are actually completely different (one referencing age of oldest account and one referencing AAoA) and that the problem is really with CCT rendering the two very different codes with the same language.  But I have heard so many cases where it sounds like the actual reason codes themselves are completely wrong that it makes me suspect that the problem is at this level, rather than with the third-party tool used to describe the code.

One thing I am pretty confident of is that FICO doesn't assess Age of Oldest in terms of whether or not you have only one account that age.  "Age of Oldest" is calculated simply as the age of your oldest account.  FICO doesn't say, well c'mon he's only get one that old and the rest are a lot younger so we won't give him all the points for Age of Oldest.

[Thomas_Thumb]

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@Anonymous wrote:

I can see Experian's point on that issue. That 30 year plus history consists of a single card showing in my files. The next oldest is only a little over 8 years. So, they're focusing on the AAoA which is rarher short.

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CAPTOOL - Credit history typically equates to oldest account on file. It really should not be an AAoA thing. @I also was tagged with "short credit history" under TU. This is weird given -  [oldest @ 32 years, AAoA @ 16 years and youngest @ 4.5 years]

Note: Installment loan credit history is, per my codes, a factor on its own. Not sure what a long installment credit history is but, my open mortgage loan has 10 years of payment history. I don't have any other type installment loan on file so, that may be the trigger. 

I reported a balance on 6 of 6 cards - so the #1 EQ reason is valid. However, my AG UT was under 4% so not sure about: "amount owed on your revolving accounts is too high".

[Anonymous]

There's something profoundly broken about a screenshot that says your strength is your Long Credit History (TU) and your weakness is your Short Credit History (EX) when the data are identical!  :-)

Yeah, that does look pretty damned weird. Most of this stuff just has me shaking my head. Especially the reason code lists I've seen. I find much of it to be far more convoluted than it needs to be.

[Anonymous]

One additional note: Vantage 3.0 TU doesn't seem to have the same emphasis on oldest account as Fico TU. My EQ and TU scores are identical at 782.

[Thomas_Thumb]

Curious as to what your files show with respect to other accounts and installment loans.

As I recall you have a few on file and one may have closed recently. Impact of not having an open loan may be treated differently depending on the CRA as may installment loan history. Do all CRAs show identical information for your closed accounts?

[Anonymous]

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@Thomas_Thumb wrote:

Curious as to what your files show with respect to other accounts and installment loans.

As I recall you have a few on file and one may have closed recently. Impact of not having an open loan may be treated differently depending on the CRA as may installment loan history. Do all CRAs show identical information for your closed accounts?

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Yep. All three have 9 open accounts, and 6 closed accounts. The open are 8 credit cards and a LOC. The closed are 5 credit cards and 2 paid installment loans. 

[Thomas_Thumb]

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@Anonymous wrote:

Thought this would be an interesting data point to share. This is my monthly CCT update from today. My files are an exact match, right down to total inquiries and inquires in the past 12 months, (3). As you can see, TU is 17 points higher than EX and 24 points higher than EQ. It's always had a similar spread. My theory is that TU places more emphasis on oldest tradeline than the other two. The note "long credit history" seems to indicate this.

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What happened that caused the score drops on EX and TU from the below?. No more open installment loan - yes?

I do see your 17 point score offset between EX and TU is exactly the same even without the loan. That's scary sick.